Tata Motors hikes prices, others may follow suit

Tata Motors will increase car prices by 2% from April 1, while other carmakers including Maruti Suzuki and Hyundai too are considering price hikes.

Most of the carmakers increased prices by 1 to 2% in January and another round of price hike is being initiated as there is no respite in rise in prices of major raw materials such as steel and rubber.

"Despite continuous cost control initiatives, the company is being forced to take these increases on account of steep rise in input costs," said a statement from Tata Motors.